Bitcoin Plummets Below $80K as $200M in Crypto Positions Liquidated
Bitcoin and Ethereum prices dropped sharply as over $200 million in leveraged positions were liquidated within an hour.
Bitcoin and Ethereum prices dropped sharply as over $200 million in leveraged positions were liquidated within an hour. Bitcoin (BTC) is trading at ₹75,76,119 ($79,718.00). This is an original Token Times brief synthesising 2 outlets (BeInCrypto, CryptoPotato), with their figures cross-checked, plus live market data, as of Sat, 24 Oct 2026 16:45:01 UTC.
The sudden liquidation of over $200 million in crypto positions, primarily from bullish traders, indicates significant market volatility and could trigger further sell-offs as investors react to the price drop.
- Bitcoin price dropped below $80,000, causing $200M+ in liquidations.
- Ethereum also fell, with the total crypto market cap down 4.06%.
- Traders betting on higher prices accounted for $191.33M in liquidations.
- Market sentiment remains neutral despite the sharp price movement.
BeInCrypto and CryptoPotato both report that Bitcoin's price fell below $80,000 and that over $200 million in crypto positions were liquidated within an hour. They agree that Ethereum also experienced a decline and that the total crypto market cap dropped by 4.06% over the past 24 hours. However, CryptoPotato provides additional context about specific altcoins like M, WLD, LIT, DOT, and STRK, noting that M was the only major exception in the green while others, particularly WLD, plummeted.
On Saturday, 
Bitcoin's price dropped below $80,000, leading to the liquidation of more than $200 million in crypto positions within a single hour. This sudden downturn was primarily driven by traders who had bet on higher prices, accounting for $191.33 million of the total liquidations.
Ethereum, the second-largest cryptocurrency by market cap, also experienced a significant decline, falling alongside Bitcoin. The broader crypto market was not spared, with the total market cap decreasing by 4.06% over the past 24 hours, according to BeInCrypto Markets data.
The liquidation event was corroborated by multiple outlets, with both BeInCrypto and CryptoPotato reporting the $200 million figure. While both outlets agree on the core details, CryptoPotato provides additional insight into the performance of specific altcoins, highlighting that M was the only major cryptocurrency in the green, while WLD, LIT, DOT, and STRK were among the hardest hit.
The broader market context shows a general downturn, with the total crypto market cap currently at $2.73 trillion. Bitcoin's 24-hour price change stands at -2.43%, while Ethereum has fallen by 4.34% over the same period. The Fear & Greed Index remains at 51, indicating a neutral market sentiment despite the sharp price movement.
The liquidation of such a large amount in a short period suggests potential for further market volatility. Investors will be watching key support levels for Bitcoin and Ethereum to see if the downturn stabilizes or if it triggers a more significant sell-off.
Since this brief published about 58 minutes ago, Bitcoin (BTC) has moved from ₹75,69,466.51$79,648.00 to ₹75,76,119.07$79,718.00 — +0.09%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution; intraday detail builds over the first day). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
Will Bitcoin dip to $70,000 by December 31, 2026?
Crowd-implied probability on Polymarket, ₹16.08M 24h volume, resolves Jan 1 — snapshotted when this brief published (Oct 24 16:05 UTC). A market price reflects what traders collectively expect; it is not a forecast by Token Times and will have moved since. View the market ↗
At today's peer-to-peer rate, 1 BTC ≈ ₹8.31M (about $79,718.00), down 2.4% over 24 hours. The rupee itself trades about 9.6% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
1 key figure independently matched across 2 outlets reporting this story.
Token Times extracts the figures each outlet reports and flags the ones that agree. Numbers cited by only one outlet are attributed in the brief, not shown as corroborated.
Bitcoin Plummets Below $80K as $200M in Crypto Positions Liq — questions & answers
What caused the sudden drop in Bitcoin's price?
The drop was primarily due to the liquidation of over $200 million in leveraged crypto positions, with $191.33 million from traders betting on higher prices.
How did Ethereum perform during this downturn?
Ethereum also fell, with its price dropping by 4.34% over the past 24 hours.
Which altcoins were most affected by the market downturn?
WLD, LIT, DOT, and STRK were among the hardest hit, while M was the only major cryptocurrency in the green.
How much is 1 Bitcoin worth in rupee today?
About ₹8.31M at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $79,718.00. The rupee price moves with both BTC's US-dollar price and the USDT/INR rate; use our Bitcoin in rupee page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is up 0.09% since this brief first published — trading at ₹75,76,119 ($79,718.00) now versus ₹75,69,467 ($79,648.00) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from BeInCrypto, CryptoPotato, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.